Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Former LRA commander appears before ICC

Read more

WEB NEWS

'Snowmageddon 2015': Web users brace for massive snow storm

Read more

THE INTERVIEW

In Nazi death camps, 'I asked myself where God was all the time'

Read more

MEDIAWATCH

Far-left and far-right celebrate Syriza's victory

Read more

FOCUS

Auschwitz, the symbol of industrial-scale extermination

Read more

ENCORE!

The voices of Auschwitz in music, film and literature

Read more

THE BUSINESS INTERVIEW

Sir Martin Sorrell: Brexit referendum would be ‘very damaging for UK economy’

Read more

WEB NEWS

Facebook cracks down on viral hoaxes

Read more

THE INTERVIEW

Colombia's Santos 'convinced' that FARC rebels 'want peace'

Read more

Europe

IMF warns Greece that more action is needed on debt

Video by Aurore Cloe DUPUIS

Text by News Wires

Latest update : 2011-09-19

The IMF told Greece on Monday that "additional measures" were required to reduce its budget deficit ahead of an urgent consultation with the EU and the country's finance minister, Evangelos Venizelos (pictured), on more rescue funds.

AFP - Greece will have to do more to cut its budget deficit, the International Monetary Fund warned on Monday as the IMF and EU headed for a crisis teleconference with the Greek finance minister.

"Additional measures will be needed in order to reduce the budget deficit," the IMF representative to Greece Bob Traa said at a symposium in this seaside resort near Athens in the presence of the Greek Finance Minister Evangelos Venizelos.

Speaking at a conference between the IMF and Greek business leaders organised by The Economist magazine, he said that Greece should launch urgent reforms of its tax administration and warned the government against constantly raising taxes.

Is a Greek default an option?

His remarks came shortly before a teleconference between the minister and auditors from the eurozone and IMF who have yet to decide whether Greece has repaired broken promises enough to warrant the release of rescue funds urgently to avoid bankruptcy early next month.

The teleconference is to be held at 1200 GMT, and Venizelos said on Sunday that it would be followed by a ministerial meeting to decide on new concrete budget measures.
 

Date created : 2011-09-19

  • GREECE

    Greek PM cancels US trip ahead of crucial week

    Read more

  • GREECE

    Germany, France say Greece 'integral' to eurozone

    Read more

  • GREECE

    Greece unveils €2 billion in cuts to secure EU/IMF bailout

    Read more

COMMENT(S)